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Jun 30, 2023
Varex Imaging Q3 2023 Earnings Report
Varex Imaging announced financial results for the third quarter of fiscal year 2023, with revenues reaching a new quarterly record and non-GAAP gross margin exceeding expectations.
Key Takeaways
Varex Imaging reported revenues of $232 million, a new quarterly record, with a GAAP gross margin of 33% and a non-GAAP gross margin of 34%. The company's cash position increased by $30 million due to efforts to reduce inventory levels and improved profitability.
Revenues reached $232 million, a new quarterly record.
GAAP gross margin was 33%, while non-GAAP gross margin was 34%.
GAAP net earnings were $0.21 per diluted share, and non-GAAP net earnings were $0.37 per diluted share.
Cash flow from operations was $38 million, resulting in a $30 million increase in overall cash position.
Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal year 2023, Varex Imaging expects revenues between $220 million and $240 million, and non-GAAP net earnings per diluted share between $0.20 and $0.40.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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